Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets remained subdued on Thursday as the geopolitical situation showed no signs of easing.
The ADX General Index (FADGI) fell 0.51% to close at 9,781.31. Trading activity remained strong, with 16,551 trades involving 192 million shares worth Dh771 million. The total market capitalisation of ADX-listed companies stood at Dh2.862 trillion.
2PointZero and AD Ports Group were among the few blue-chip stocks to make gains during the subdued session.
The banking sector largely mirrored the broader market’s weakness. Abu Dhabi Commercial Bank dropped 1.93%, while Abu Dhabi Islamic Bank lost 1.13%. First Abu Dhabi Bank declined 0.56%.
ADNOC-linked stocks also faced selling pressure. ADNOC Logistics & Services dropped 1.97%, while ADNOC Drilling lost 1.41%. ADNOC Gas fell 1.19%. ADNOC Distribution and Borouge remained unchanged at Dh3.97 and Dh2.42, respectively, while Fertiglobe lost 0.75%.
Investment holding company 2PointZero rose 0.94% to close at Dh2.14 after its subsidiary ePointZero completed the acquisition of US-based Traverse Midstream Partners. Another investment holding company, Alpha Dhabi, slipped 2.34%, adding to the pressure on the ADX index.
Real estate major Aldar fell 0.13%, with the property sector remaining among the sectors most sensitive to the ongoing regional situation. Ports and logistics operator AD Ports Group rose 0.6%, showing resilience amid the ongoing crisis.
In Dubai, the Dubai Financial Market General Index (DFMGI) fell 0.261% to close at 5,895.93. The session recorded 11,030 trades, with 116 million shares changing hands for a total value of Dh432 million. Market breadth was broadly even, with 16 gainers, 17 decliners and 16 stocks unchanged.
Real estate majors Emaar Properties and Emaar Development posted moderate gains, with the former rising 0.17% and the latter advancing 0.15%.
Emirates NBD gained 0.53%, helping to limit the decline in the main index. Dubai Islamic Bank slipped 2.38%.
Utility provider DEWA remained unchanged at Dh2.71, while road-toll operator Salik gained 0.18%.
Telecom operator du lost 0.16%, while food-delivery company talabat slipped 0.84%.
Emirates Refreshment Company, a distributor of several fast-moving consumer goods, rose 14.74%, providing support to consumer-related stocks.
